Security State Bank

Security State bank received its Certificate of Incorporation on January 17, 1911 and opened for business on February 9, 1911 on 3rd Avenue[1]. The bank started when H.P. Reed tried selling safe deposit boxes that were in a vault he had, the mayor said this was illegal and suggested he start a bank[2]. The original teller cages were bulletproof and were equipped with a 38 pistol[3]. At this time there were no electronic records, everything was done by hand[4] In 1915 the bank was located in North Hibbing before the town moved[5]. In 1927 the bank moved to its new location at 401 East Howard Street[6]. In 1974 ground was broken for the present location at 701 East Howard Street with a grand opening in March 1965[7]. In 1980 a new mezzanine was built, adding office space and a large presidential office[8]. In 2006 the bank had major renovations done to the interior structure to meet current security and privacy issues[9]. In 2008 the bank began parking lot and grounds renovations[10]. These were completed in the fall and new light fixtures were also added along the sidewalks[11].